Brokerages Anticipate U S Concrete, Inc. (NASDAQ:USCR) Will Announce Quarterly Sales of $338.55 Million
Equities research analysts expect U S Concrete, Inc. (NASDAQ:USCR) to post sales of $338.55 million for the current quarter, Zacks reports. Three analysts have made estimates for U S Concrete’s earnings, with the highest sales estimate coming in at $355.19 million and the lowest estimate coming in at $319.45 million. U S Concrete posted sales of $275.75 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 22.8%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 3rd.
On average, analysts expect that U S Concrete will report full-year sales of $338.55 million for the current year, with estimates ranging from $1.35 billion to $1.42 billion. For the next financial year, analysts expect that the company will post sales of $1.55 billion per share, with estimates ranging from $1.50 billion to $1.58 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover U S Concrete.
U S Concrete (NASDAQ:USCR) last issued its quarterly earnings results on Thursday, May 4th. The construction company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.11 by $0.44. U S Concrete had a net margin of 2.11% and a return on equity of 24.23%. The business had revenue of $299.10 million for the quarter, compared to analysts’ expectations of $274.88 million. During the same quarter last year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 22.1% compared to the same quarter last year.
Several research analysts have recently issued reports on USCR shares. Zacks Investment Research upgraded shares of U S Concrete from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. TheStreet upgraded shares of U S Concrete from a “c+” rating to a “b” rating in a report on Thursday, May 4th. Finally, BidaskClub upgraded shares of U S Concrete from a “hold” rating to a “buy” rating in a report on Friday, June 9th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $78.00.
Shares of U S Concrete (NASDAQ USCR) traded down 0.13% during trading on Friday, hitting $78.05. 107,389 shares of the stock traded hands. The company has a market cap of $1.21 billion, a PE ratio of 50.13 and a beta of 1.24. U S Concrete has a one year low of $42.82 and a one year high of $80.45. The firm has a 50 day moving average price of $74.87 and a 200-day moving average price of $67.47.
In related news, VP Jeffrey W. Roberts sold 2,394 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $68.00, for a total value of $162,792.00. Following the sale, the vice president now owns 34,422 shares of the company’s stock, valued at $2,340,696. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William J. Sandbrook sold 6,500 shares of the company’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $78.91, for a total transaction of $512,915.00. Following the completion of the sale, the chief executive officer now directly owns 434,069 shares in the company, valued at approximately $34,252,384.79. The disclosure for this sale can be found here. In the last three months, insiders sold 22,844 shares of company stock worth $1,599,583. 5.90% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue raised its position in U S Concrete by 5.2% in the first quarter. State of Alaska Department of Revenue now owns 1,610 shares of the construction company’s stock worth $103,000 after buying an additional 80 shares during the period. Crow Point Partners LLC purchased a new position in U S Concrete during the second quarter worth approximately $147,000. Dubuque Bank & Trust Co. purchased a new position in U S Concrete during the first quarter worth approximately $168,000. Municipal Employees Retirement System of Michigan raised its position in U S Concrete by 2.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 3,250 shares of the construction company’s stock worth $210,000 after buying an additional 70 shares during the period. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in U S Concrete during the first quarter worth approximately $213,000.
U S Concrete Company Profile
U.S. Concrete, Inc is a producer of ready-mixed concrete in select geographic markets in the United States. The Company conducts its operations through two business segments: ready-mixed concrete and aggregate products. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites.
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